The subsequent time you step outside your property, you would possibly want to take a more in-depth take a look at your property’s landscaping and hardscaping. Reuters investigated the mushrooming concern of split estates and the conflicts between mineral rights and property rights , discovering numerous instances across the country of homebuilders and developers holding on to ownership of oil and fuel deposits whereas promoting off subdivision lots, whereas providing little to no information about the problem to consumers.
If any of the latest house sales within a neighborhood are from foreclosures or short sales where the banks have substantially reduce the prices for a quicker sale, appraisers don’t have any selection however to make use of those properties as comparable sales to determine the value of a house for refinancing a mortgage.
For the past 12 years, taxes on residential property in Colorado had been assessed at a rate of 7.ninety six p.c, or almost $2,200Â on a property valued at $300,000 in Fort Collins. To account for this, you’ll want to regulate the sale costs of the comparable properties.
That implies that if residence values fall by 1 p.c, tax revenues also needs to fall by 1 p.c …